culture, politics, commentary, criticism

Monday, January 12, 2004
Frist: "Gimme shelter." Look who's buried at the end of this long article about tax shelters for the "superrich." Senate Majority Leader Bill "Pussycat" Frist's taxes are looking a bit dodgy (
Houston Chronicle):
Rich Americans are stealing billions of dollars from average wage earners through creative tax-dodging scams involving idyllic Caribbean islands, Byzantine accounting ploys and the rarefied world of high art, experts claim.


The General Accounting Office, the investigative arm of Congress, estimates tax cheats cost the federal government an estimated $11 billion to $15 billion a year.

If the cheats paid up for just one year, it would nearly cover the $18.3 billion Congress recently devoted to rebuild Iraq.

Instead, the rest of the taxpayers will carry that burden.


"The IRS always seems to be catching yesterday's hot new fraud, and today there are five or six to take its place," said Bill Allison of the Center for Public Integrity and co-author of The Cheating of America, a study of tax evasion by "the superrich."


The Senate subcommittee on investigations recently found that KPMG ignored warnings from its own staff that the shelters were bogus and concocted legal opinions to the contrary.

"I think everybody here knew what they were doing was wrong," said Sen. Norm Coleman, R-Minn., the subcommittee's chairman.

The committee reported that KPMG, one of the Big Four accounting firms, collected fees of $124 million from 1997 through 2001 on shelter plans — saving clients $1.4 billion in taxes.

The clients included Maurice Marciano, co-chairman of Guess; Dale Earnhardt, the late race car driver; and Senate Majority Leader Bill Frist, R-Tenn., according to documents filed an IRS lawsuit against KPMG.
Of course, somewhere it must be noted that "saving" KPMG clients $1.4 billion in taxes is also known as "cheating" honest taxpayers of $1.4 billion in taxes.

Another way of looking at it: For every $1 KPMG collected for its "bogus" shelters for Frist and Co., an extra $11 was taken from your pocket in the form of taxes deflected to the middle class.

Here's a peek at Frist performing for the other vast right-wing conspirators in the boardroom of anti-tax Gollum Grover Norquist. (This astonishing article on Norquist is a must-read.)

Greatest Hits · Alternatives to First Command Financial Planning · First Command, last resort, Part 3 · Part 2 · Part 1 · Stealing $50K from a widow: Wells Real Estate · Leo Wells, REITs and divine wealth · Sex-crazed Red State teenagers · What I hate: a manifesto · Spawn of Darleen Druyun · All-American high school sex party · Why is Ken Lay smiling? · Poppy's Enron birthday party · The Saudi money laundry and the president's uncle · The sentence of Enron's John Forney · The holiness of Neil Bush's marriage · The Silence of Cheney: a poem · South Park Christians · Capitalist against Bush: Warren Buffett · Fastow childen vs. Enron children · Give your prescription money to your old boss · Neil Bush, hard-working matchmaker · Republicans against fetuses and pregnant women · Emboldened Ken Lay · Faith-based jails · Please die for me so I can skip your funeral · A brief illustrated history of the Republican Party · Nancy Victory · Soldiers become accountants · Beware the Merrill Lynch mob · Darleen Druyun's $5.7 billion surprise · First responder funding · Hoovering the country · First Command fifty percent load · Ken Lay and the Atkins diet · Halliburton WMD · Leave no CEO behind · August in Crawford · Elaine Pagels · Profitable slave labor at Halliburton · Tom Hanks + Mujahideen · Sharon & Neilsie Bush · One weekend a month, or eternity · Is the US pumping Iraqi oil to Kuwait? · Cheney's war · Seth Glickenhaus: Capitalist against Bush · Martha's blow job · Mark Belnick: Tyco Catholic nut · Cheney's deferred Halliburton compensation · Jeb sucks sugar cane · Poindexter & LifeLog · American Family Association panic · Riley Bechtel and the crony economy · The Book of Sharon (Bush) · The Art of Enron · Plunder convention · Waiting in Kuwait: Jay Garner · What's an Army private worth? · Barbara Bodine, Queen of Baghdad · Sneaky bastards at Halliburton · Golf course and barbecue military strategy · Enron at large · Recent astroturf · Cracker Chic 2 · No business like war business · Big Brother · Martha Stewart vs. Thomas White · Roger Kimball, disappointed Republican poetry fan · Cheney, Lay, Afghanistan · Terry Lynn Barton, crimes of burning · Feasting at the Cheney trough · Who would Jesus indict? · Return of the Carlyle Group · Duct tape is for little people · GOP and bad medicine · Sears Tower vs Mt Rushmore · Scared Christians · Crooked playing field · John O'Neill: The man who knew · Back to the top

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